MONEY, MONEY, MONEY

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Nowadays, starting a business can cost quite a large amount of money, often in one lump sum that is not always a viable option. There are a number of tricks one could use to make sure you are starting your business in the correct manner, growing and developing at a rate that is going to ensure your financial stability. (more…)

Scam emails…what to look out for and what to do!

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email scamsIt’s that time of the year again, every scammer out there is sending emails pushing their luck and trying to catch an innocent person out. Today, online fraud is a large-scale and highly lucrative criminal enterprise. Amongst the most popular of the scams out there are scammers claiming to be from SARS or other investment schemes and of course the ever popular “cash prize” – claiming that you have won a ridiculous amount of money (even though you had never even entered a competition to begin with!).

The scariest part is that it doesn’t take much for a hacker to create an email that helps them to pretend to be from a trusted bank. Once they have convinced you that they are from a reliable bank or are a trusted retailer, they ask for your login details and then obtain your confidential information in a few easy steps! There are over 200million scam emails (formally known as “phishing” emails) sent every day – so there is a pretty good chance that one will land in your inbox! Unfortunately it’s the small and midsize companies that are often the main target because they don’t always have the capital to spend on IT security infrastructure. So how do you prevent falling into this trap and what are the things to look out for? We have identified these and listed them below…

LOOK OUT FOR THE FOLLOWING TO DETERMINE WHETHER OR NOT THE EMAIL IS A SCAM:

  1. Hover over the “from column” with your mouse, the name that comes up should always match the domain name.
  2. A scammer will more than likely use poor grammar or spelling in their email. They have learnt that people who respond to a poorly written email are normally an easy target for their scam.
  3. A legitimate email is usually accompanied by a logo and or pictures and formal signatures, if the email is plain or looks different to what you are used to receiving from that company then it is best to ignore and delete the email.
  4. If you are asked for personal information or asked to update current information via email, it is probably a scam. The scammers use this to get you to click on URL’s or download attachments that aim to infect your computer or take information.Your bank should never request sensitive or personal details over email!
  5. Your financial institution should never send attachments via email either. Watch out for the following file types in particular; .exe, .scr, .zip, .com, .bat.
  6. If an email seems too good to be true, it most likely is! This one is pretty obvious…You will not have a random bank or person requesting details urgently to transfer money into your account!

WHAT TO DO IF YOU RECEIVE A SCAM EMAIL?

  • NEVER;
  • Click on any links in the scam email.
  • Reply to the email/contact the sender in any way.
  • Open any attachments that arrive with the email.
  • If you clicked on a link in the email by mistake, make sure that you do not supply any information on the website that may open.
  • If you think that you have in any way compromised the safety of your details or have lost money in a fraudulent scheme, it is important to contact your bank immediately.
  • If SARS says that you are due a refund and it looks suspicious or they are trying to put money in your bank account – check with your Accountant straightaway!

Provisional Tax – The do’s and don’ts…

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Provisional Tax 2015Owner of PATC, Gavin Bacon, recently gave a talk at the Premier Hotel in Pinetown for the annual Durban Chamber of Commerce and Industry – Western Area Business Forum. Bacon’s aim was not to give a lecture and he did not intend on making everybody in the room proficient in Provisional Tax but he rather chose to touch on the various aspects of Provisional Tax so that the audience was filled with questions and a desire to know more! He wanted to encourage people to seek further advice and consult Tax Practioners and Professionals. We have summarized the talk below for those who were unable to attend. (more…)

Professional Accountants & Tax Consultants – Press Release

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PATC (Professional Accountants and Tax Consultants) are excited to announce the recent partnering with South Africa’s number one Sage Pastel Payroll Business partner – Ritzy IT.

Ritzy

Established in 1993, Ritzy IT has a strong history of business excellence and knowledge. Ritzy IT specialises in Accounting, Financial, Payroll, Payroll Bureau and Business Solutions. Their superior software solutions deliver competitive advantages and increase efficiency and profitability. Ritzy have partnered with us as their preferred and trusted Accounting and Tax service for their clients.

PATC (Professional Accountants and Tax Consultants) have always focused on Accounting, Bookkeeping and Tax and consequently “Pastel” has never featured on our list of available services. And Ritzy IT mentioned that their clients are forever requesting a referral for a trusted and experienced accounting firm. Therefore Partnering with Ritzy IT just made sense for both parties involved.

Benefits to our PATC (Professional Accountants and Tax Consultants) clients;

–        Rates are cheaper.

–        Hourly rates (where applicable) are less.

–        Ritzy will give you a kickback on the rebate that they earn from Pastel.

–        Excellent after sales service, telephonic and onsite support.

 

Ritzy IT has agreed to some exclusive specials for PATC (Professional Accountants and Tax Consultants) ONLY, this is an exclusive and limited offer. So what are you waiting for? Join PATC by the 15th December 2014 and you will receive the following (valued over R4500);

  1. A FREE meeting (Business and Tax assessment)
  2. 10% discount on all fees
  3. A free spa treatment

For more information or any other queries please contact PATC (Professional Accountants and Tax Consultants) today!

All you need to know about “Dividends Tax “

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Dividends Tax

 

 

 

 

 

 

 

What is Dividends Tax?
Dividends Tax is a tax charged at 15% on shareholders when dividends are paid to them. Under normal circumstances Dividends Tax is withheld from the shareholders by a withholding agent (by the company paying the dividend/where a regulated intermediary is involved). A Dividend is in essence any payment made by a company to a shareholder for a share in their company (this excludes the return of contributed tax capital). (more…)

2015 Budget Tips

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2015 Budget Tips

2015 Budgeting tips

So many businesses either shut down or become very quiet over the festive season. You might however be stuck in the office until Christmas Eve, due to leave restrictions or business obligations and commitments. Why not use this quiet time in the office to plan your business or personal budget for 2015? Besides, it’s difficult to enjoy the holidays or your time off when you’re worried about money! Consider the following 2015 Budgeting Tips set out by PATC (Professional Accountants and Tax Consultants)… (more…)